Archive for September 25th, 2008
MERRILL LYNCH: US Sub-Prime Gambling Debts Paid for by British Tax Payer for the next 60 years.
Thursday, September 25th, 2008 The US subprime market is a global event and threatens to undermine tax revenues of governments across the world.
Merrill Lynch has run up a $29bn loss from its collateralized debt obligations, which are backed, though not completely, by subprime mortgages. This debt has now been channeled through its UK subsidiary, Merrill Lynch International.
UPDATE : […]